APPLICATION OF STATISTICAL FORECASTING TECHNIQUES IN INVENTORY CONTROL POLICY

Abstract

Solution to inventory problem using techniques of classical inventory control, sales forecasting and simulation; basic inventory system developed herein has been implemented by company with reasonable success; IBM 7040 computer is used to perform monthly calculations and print reports regarding necessary production, machine loading and job scheduling; inventory costs have been reduced and management decisions regarding inventories have been based on more accurate and reliable data than was previously available.

title = "APPLICATION OF STATISTICAL FORECASTING TECHNIQUES IN INVENTORY CONTROL POLICY",

abstract = "Solution to inventory problem using techniques of classical inventory control, sales forecasting and simulation; basic inventory system developed herein has been implemented by company with reasonable success; IBM 7040 computer is used to perform monthly calculations and print reports regarding necessary production, machine loading and job scheduling; inventory costs have been reduced and management decisions regarding inventories have been based on more accurate and reliable data than was previously available.",

N2 - Solution to inventory problem using techniques of classical inventory control, sales forecasting and simulation; basic inventory system developed herein has been implemented by company with reasonable success; IBM 7040 computer is used to perform monthly calculations and print reports regarding necessary production, machine loading and job scheduling; inventory costs have been reduced and management decisions regarding inventories have been based on more accurate and reliable data than was previously available.

AB - Solution to inventory problem using techniques of classical inventory control, sales forecasting and simulation; basic inventory system developed herein has been implemented by company with reasonable success; IBM 7040 computer is used to perform monthly calculations and print reports regarding necessary production, machine loading and job scheduling; inventory costs have been reduced and management decisions regarding inventories have been based on more accurate and reliable data than was previously available.